Renaissance Technologies LLC Buys 1,297,200 Shares of Klarna Group plc $KLAR

Renaissance Technologies LLC increased its position in Klarna Group plc (NYSE:KLAR) by 173.9% during the 1st quarter, Holdings Channel reports. The firm owned 2,043,100 shares of the company’s stock after acquiring an additional 1,297,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Klarna Group were worth $26,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of KLAR. Walleye Capital LLC lifted its holdings in shares of Klarna Group by 35.4% in the 1st quarter. Walleye Capital LLC now owns 121,352 shares of the company’s stock worth $1,588,000 after buying an additional 31,729 shares during the period. State of Wyoming raised its holdings in shares of Klarna Group by 137.1% in the first quarter. State of Wyoming now owns 75,088 shares of the company’s stock valued at $983,000 after acquiring an additional 43,412 shares in the last quarter. Militia Capital Management LLC purchased a new stake in Klarna Group in the first quarter worth about $3,558,000. Baader Bank Aktiengesellschaft purchased a new stake in Klarna Group in the first quarter worth about $1,964,000. Finally, Amova Asset Management Americas Inc. grew its holdings in Klarna Group by 57.8% during the 1st quarter. Amova Asset Management Americas Inc. now owns 1,198,554 shares of the company’s stock worth $15,701,000 after acquiring an additional 438,930 shares in the last quarter.

Klarna Group Stock Down 0.7%

Shares of Klarna Group stock opened at $18.59 on Thursday. The company has a market cap of $7.02 billion and a P/E ratio of -35.74. The firm’s 50 day moving average price is $18.25 and its 200-day moving average price is $17.62. Klarna Group plc has a 52-week low of $12.06 and a 52-week high of $57.20.

Klarna Group (NYSE:KLAR) last posted its earnings results on Wednesday, May 20th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.12. Klarna Group had a negative net margin of 5.21% and a negative return on equity of 7.62%. The business’s revenue was up 42.7% compared to the same quarter last year. As a group, equities research analysts forecast that Klarna Group plc will post 0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KLAR has been the subject of several research reports. TD Cowen upped their price target on shares of Klarna Group from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Klarna Group from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. The Goldman Sachs Group upped their target price on Klarna Group from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. UBS Group increased their target price on Klarna Group from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Barclays began coverage on Klarna Group in a research report on Wednesday, July 8th. They issued an “equal weight” rating and a $20.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.11.

Klarna Group Profile

Klarna Group is a global payments provider specializing in “buy now, pay later” (BNPL) solutions for online and in-store shoppers. The company partners with merchants to offer flexible payment options, including interest-free installments and deferred payments, aiming to enhance conversion rates and customer loyalty. Klarna’s platform integrates risk assessment, fraud prevention, and a one-click checkout experience to streamline transactions for both retailers and consumers.

Through its digital wallet and mobile app, Klarna enables users to manage purchases, track spending and access exclusive shopping offers from partner merchants.